South Korean commodities trader, POSCO International, has identified carbon capture and storage (CCS) as a future growth driver and started to seriously develop the business. In February, the company launched a CCS Business Promotion Team under its Energy Business Division to speed up its CCS business.
The reason behind POSCO International’s acceleration of the CCS business is that it believes that business conditions have been secured as carbon neutrality has been set as a national task in 2050 and legislation on carbon dioxide capture, transportation, and storage has been promoted.
POSCO International is the only company in Korea that connects all stages of an LNG value chain and has expertise and human resources that can be applied to the CCS business including natural gas exploration, gas transportation, and gas field and gas terminal operations.
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